WTW’s investment follows a successful strategic alliance since 2022.
London, 3 October 2024 – WTW announced today that it has acquired a stake in atomos, the UK-based advice-led wealth manager backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
The investment follows a successful alliance with atomos since the end of 2022, during which WTW’s investment engine has successfully powered atomos’ multi- asset investment solutions. With its scale and investment rigour, WTW provides atomos’ clients with access to a broader, more diversified range of asset classes and investment choices, previously only available to institutional sized investors.
This next step in the partnership sees WTW acquire part ownership in the business, as well as providing additional capital designed to support further growth.
The UK wealth market is large and growing, estimated to be worth £2.2 trillion. Through this investment WTW strengthens its relationship with a key strategic partner and boosts its presence in the UK wealth space.
“Our investment in atomos is the natural next step in our successful partnership and extends our investment capabilities to a wider audience.”
Mark Calnan | Head of Investments, Europe, WTW
Mark Calnan, Head of Investments for Europe, WTW, said: “This is an incredibly exciting development for WTW which reinforces our commitment to the wealth markets, a strategic focus area for us and one that has driven significant growth for our business in recent years. Our investment in atomos is the natural next step in our successful partnership and extends our investment capabilities to a wider audience.
“Our stake in atomos enhances our ability to shape how the industry services the needs and aspirations of savers in the UK. This is particularly important as individuals take increased responsibilities for their retirement through defined contribution schemes and personal savings. It also enables us to bring our experience and capabilities built over many decades in occupational pensions to atomos’ individual clients.”
“Having had the opportunity to work closely with the atomos leadership team since the end of 2022, we have seen first-hand the alignment with us. We passionately share the belief that combining high quality financial planning with institutional-quality investment portfolios is a winning combination that delivers sustainable financial outcomes for savers.”
Federico Alvarez-Demalde, a managing director at Oaktree, commented on the deal, stating: “In a highly competitive market, WTW’s strategic minority stake in atomos is both a clear indication of the value of the UK wealth management sector, and an endorsement of the company’s differentiated vertically integrated business model. The deal is designed to deliver better outcomes for a broad range of clients. It also recognises atomos’ outstanding growth potential, both organically and through its disciplined acquisition strategy. The atomos leadership team has ambitious plans for the business and a clear strategy for realising those plans.”
Jonathan Polin, CEO of atomos, said: “We are delighted to be extending our relationship further with WTW after a highly successful period since the end of 2022 in which, together, we have transformed the investment proposition we offer our clients. WTW’s investment in atomos, having seen first-hand the strength of our client relationships and quality of our people, is further recognition of the health and growth potential of this business. As we look for more ways in which we can enhance the atomos client experience, our closer alignment to such an established, well- resourced business will play a key part.”
Houlihan Lokey acted as financial advisor to WTW. Herbert Smith Freehills LLP acted as legal advisor in connection with the transaction. Fenchurch Advisory Partners acted as financial advisor to atomos. White & Case acted as legal adviser to atomos in connection with the transaction.
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WTW’s Investments business is focused on creating financial value for end investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, more than 1,000 investment clients globally, assets under advisory of over US$4.2 trillion and US$167 billion of assets under management.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
atomos is a UK-based, digitally enabled, hybrid wealth business providing a full financial planning service and bespoke portfolio management to UK clients (retail and professional). Originating from the Sanlam Wealth UK business, atomos is led by CEO, Jonathan Polin. The company has ~£7 billion of assets.
atomos will allow clients to view their entire financial ecosystem through an app and will offer the best of both worlds where clients will be able to personalise how they interact with the company, whether digitally, face-to-face or a hybrid of the two.
The name, meaning “indivisible” in ancient Greek represents a strong internal culture of collaboration, inclusivity and diverse perspectives.
This document contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. You can identify these statements and other forward-looking statements in this document by words such as “may”, “will”, “would”, “expect”, “anticipate”, “believe”, “estimate”, “plan”, “intend”, “continue”, or similar words, expressions or the negative of such terms or other comparable terminology. These statements include, but are not limited to, the potential impact of the investment and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature. There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained herein, including, but not limited to those described under “Risk Factors” in Willis Towers Watson Public Limited Company’s most recent 10-K filing and subsequent filings filed with the SEC.
